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Old 02-10-2009, 07:12 PM   #21
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republic of texas = no taxes
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Old 02-10-2009, 07:17 PM   #22
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Originally Posted by Saml01 View Post
Getting a 1099?

---

Im kinda new to this whole tax thing, but if I understand it correctly one shouldn't be getting back or giving at the end of the year, optimally speaking. I mean if you owe, then you didnt have enough withheld, and if you are getting back then you had to much withheld.
True, but working in school, I always have a little more taken out so I can get it in a refund. I really do NOT want to owe anybody and it is like a bonus check when I need it
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Old 02-10-2009, 09:42 PM   #23
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I got $500 back from federal and $40 back from VA. I did mine the day I got my w2's and had the money in my bank account less then a week later. Then it all went to visa.
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Old 02-10-2009, 09:47 PM   #24
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Taxslayer.com here too (free)

~$4500 total refund, yeah I suck at math, but some of that is EIC and some is also mortgage interest.
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Old 02-10-2009, 10:08 PM   #25
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Quote:
Originally Posted by Saml01 View Post
Getting a 1099?

---

Im kinda new to this whole tax thing, but if I understand it correctly one shouldn't be getting back or giving at the end of the year, optimally speaking. I mean if you owe, then you didnt have enough withheld, and if you are getting back then you had to much withheld.
I had intended to qualify for a large tax exemption, but was not able to when i returned to the states for a extended medical visit. If i am physically present in another country 330 days a year, i can claim the foreign earned income tax exemption. For 2008 this exemption would have covered the first $85,000 of my salary.
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Old 02-10-2009, 10:57 PM   #26
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im getting back $1255 and didnt pay a penny to file.

when i make more then 15k a year ill worrie about how much im paying uncle sam, till then its a nice extra paycheck.
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Old 02-10-2009, 11:52 PM   #27
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i made an appt with our accountant. our taxes are a little complicated. my tax bracket and my wifes' bracket, plus we both have a lot of itemized deductions every year. to top it off, i bought another car and we bought a home. i HOPE that tax credit applies to non-first time buyers, we have never taken stupid loans to get a house we can't afford. why should i have to pay for someone's greed?
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Old 02-11-2009, 01:30 AM   #28
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I owe over 10k in taxes this year.

I've been unemployed for 6 months.

Thinks I can afford to drop 10k? No way Jose. Even if I sold off the maybe 1500 bucks of turbo parts sitting in my garage...thats just a drop in the bucket.

Sorry Uncle Sam.
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Old 02-11-2009, 10:08 AM   #29
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Quote:
Originally Posted by Stein View Post
If you have a simple return, you can do it on turbo tax's website for free as well. I'm guessing it is for 1040EZ only, which is just as easy to do on paper, though.
I think most people could file for free. You can go to IRS.gov and click free file and it gives you a whole list of free programs you can use. I filed a full 1040, schedule a (itemized deductions), schedule d (capital gain/loss), 2106 (unreimbursed employee business expense), 8283 (charitable cont.), and student loan interest deduction, and all that was free.
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Old 02-11-2009, 11:05 AM   #30
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Quote:
Originally Posted by Milton Tucker View Post
I had intended to qualify for a large tax exemption, but was not able to when i returned to the states for a extended medical visit. If i am physically present in another country 330 days a year, i can claim the foreign earned income tax exemption. For 2008 this exemption would have covered the first $85,000 of my salary.
Are you getting paid in US dollars while you are over seas?
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Old 02-11-2009, 04:07 PM   #31
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Did a 1040EZ for fed and state the first week I got my W2 back. Already have the money in the bank ($1600 I think for both). Doing your own 1040EZ is much better than paying someone $600 to do your taxes like we used to when we had the business. I HATE paying lawyers, accountants, etc...
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Old 02-11-2009, 10:47 PM   #32
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Quote:
Originally Posted by Saml01 View Post
Are you getting paid in US dollars while you are over seas?
Yes I am paid in US Dollars they direct deposit my pay into my state side bank account.
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Old 02-11-2009, 10:55 PM   #33
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TurboTax ($30 option) for about a $500 refund. - Not within the +/- $200 I like to dial it in as, but close enough...

Depending upon the markets (stock and job), next year's filing might be interesting!

- L
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Old 02-12-2009, 04:28 AM   #34
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Taxes filed, refund issued, Miata parts ordered, and shipment arrives tomorrow
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Old 02-12-2009, 07:01 AM   #35
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Filed and it was in my bank account last week. Felt good to get it the **** done right away and not put it off.

Vash-
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Old 02-12-2009, 11:03 AM   #36
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Quote:
Originally Posted by Milton Tucker View Post
Yes I am paid in US Dollars they direct deposit my pay into my state side bank account.
Then I don't think you can claim the foreign earnings exemption that you mentioned.

That foreign earnings exemption is only if you worked abroad, received the check abroad and worked more then 330 days there.
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Old 02-13-2009, 10:46 AM   #37
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Originally Posted by y8s View Post
OH OH OH that reminds me, the first time homebuyer credit may be applicable to NON-first time buyers. holla!
It'd be cool if 1. you didn't have to pay it back & 2. you could get it if you are a first time buyer but your spouse isn't.
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Old 02-13-2009, 11:02 AM   #38
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tim, i think the loan part is gone. i'm not sure on spouses unless you file separately and even then you may be screwed.
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Old 02-13-2009, 11:02 AM   #39
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Quote:
Originally Posted by Saml01 View Post
Then I don't think you can claim the foreign earnings exemption that you mentioned.

That foreign earnings exemption is only if you worked abroad, received the check abroad and worked more then 330 days there.
The method in which you are paid is irrelevant. The only thing that matters is where the work was done for the payment. Be aware though that anything over $87,600 if filing as single and $175,200 if married filing jointly, you have to pay taxes on. Don't think it is a right off of all of it.

Also, make sure you get the paperwork from your employer saying that you were gone when you make the claim for the exemption. You wouldn't believe how many people try to claim this every year becasue they think they can just check a couple boxes and not pay anything.
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Old 02-13-2009, 12:00 PM   #40
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Quote:
Originally Posted by rharris19 View Post
The method in which you are paid is irrelevant. The only thing that matters is where the work was done for the payment. Be aware though that anything over $87,600 if filing as single and $175,200 if married filing jointly, you have to pay taxes on. Don't think it is a right off of all of it.

Also, make sure you get the paperwork from your employer saying that you were gone when you make the claim for the exemption. You wouldn't believe how many people try to claim this every year becasue they think they can just check a couple boxes and not pay anything.
Really. I swear I always thought it was the other way. Example. You are a resident of the states, you went to work abroad, got paid over there, and then came back. It kind of doesnt make sense for you to pay tax here.

But if you got paid here, but worked abroad your employer still withdraws taxes from your salary, pays your benefits, and you have deductions for all the various SS and Medicares and etc. So you would have to pay taxes.

Makes sense?

Im trying to find some info online but I have no idea what to refer to it as, "foreign earnings tax exemption" doesnt work on google.
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